If you are thinking about investing in Solana, the one question to ask yourself is: Can Solana really become the next Ethereum? If the answer is "Yes," then this is absolutely the one cryptocurrency that you should be buying right now. Where to buy solana crypto Solana (CCC:SOL-USD) is down about 8% over the past 24 hours, providing an opportunity for investors to buy the dip in this so-called Ethereum (CCC:ETH-USD) killer.
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To buy Solana on a DEX such as Jupiter or Raydium, you will first need a wallet compatible with the Solana network. Ensure your wallet is funded with enough crypto to complete the purchase and cover transaction fees. Connect your wallet to the DEX website; this often involves scanning a QR code or selecting a wallet connection option. How Is the Solana Network Secured? You can store SOL tokens in multi-currency crypto wallets that support it, for example Atomic and Trust Wallet. If you want a dedicated Solana wallet, you can check out Solflare, a wallet created by the Solana community. However, if you’re looking for the safest place to store SOL, your best bet would probably be an offline wallet like the Ledger Nano S.
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Once the funds have arrived in your account, you are ready to buy your first SOL coins. Usually, SOL is traded against U.S. dollars and other major cryptocurrencies like Bitcoin, Ether, USDC, and USDT. Pick the SOL/USD pair and choose ‘market order’ to purchase SOL at the current market price or ‘limit order’ to set a specific price you want to purchase at. What Is Solana (SOL)? Learn About Ethereum’s Growing Rival While the recent price drop has raised concerns, the on-chain and derivatives data highlight investors’ faith in Solana’s ability to overcome these hurdles, backed up by the network’s strong ecosystem growth and promising developments. As the technical analysis suggests, SOL is primed for recovery, with bulls holding strong above the $125 support level.
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AMBCrypto analyzed the SOL/USD four-hour chart, using the Exponential Moving Average (EMA). As of this writing, the 20 EMA (blue) was above the 50 EMA (yellow). This is an indication that SOL’s uptrend may continue. Popular Cryptocurrencies Not ready to buy or sell Solana because of the current price? With Pionex Structured Product, you can earn passive income while you wait for the price to reach your desired target price.
